Finance Report:
Audited Financial Statements,
for the year ended March 31, 2015
Bob Dillman, Finance & Operations Director
Mitchell Cook, Finance & Operations Manager
Remembering a Leader
Bethany Tory
•
Inspirational
•
Compassionate
•
True Champion
Today
Theme: Changes over the last year
1. General
2. PricewaterhouseCoopers LLP
General
•
Fiscal Transparency
•
Change in Chart of Accounts
Steps to fiscal transparency
•
Draft financial statements made available to
membership on the Info Centre 21 days prior to the
ACGM;
•
Management Discussion & Analysis documents have
been made available to membership online before the
ACGM;
•
Hard copy materials for review prior to arrival at the
ACGM;
Chart of Accounts
•
Complete revamp of our chart of accounts –
aligns with new divisional structure
•
Reduced from 2400+ GL codes to approx. 500
•
Cleaner structure = cleaner data!
Tools Developed
MS Dynamics Great Plains
• Financial Software
• New COA/Payables/Analytical Accounting/Smartlist Structure
MS Dynamics – Management Reporter
• Reporting Tool that serves as template to draw data
• P&L/Balance Sheet/Event Reports/Ad-hoc as needed
DOMO – Business Intelligence Tool
• Centralized dashboarding from multiple systems
• GP/Excel/Zendesk/Social Media/HP Data/Ad-hoc as needed
MS Excel
• Self Explanatory – but the most powerful tool we have!
• More granular data dumps/pivot tables available due to revised
structure
Tools Being Developed
MS Dynamics Great Plains
•
Software Update: version 2015 R2 available in June 2015
•
Update Includes: Excel Builder/Smartlist Builder
Business Intelligence Tool
•
Expand data connections to include:
•
Dynamics CRM
•
Dynamics GP
•
Social Media & Other
MS Excel
•
With the module expansion of Dynamics GP:
•
Excel Builder: Live excel pivot table
•
Smartlist Builder: Customization of smartlist reports (similar to SQL)
MS Dynamics Business Analyzer
•
Microsoft & Apple application
Constraints
MS Dynamics CRM
•
Currently awaiting integration of financial transactions
•
Current process is manual – relying heavily on man power and previous
membership management system
Revamped Members Portal
•
Currently being developed to replace Members Only
Online Event Registration (OER)
PricewaterhouseCoopers LLP
•
1
st
Engagement - Recommendations for
financial statement changes
•
Audit Process
•
Audit Opinion
PWC Recommended Financial
Statement Changes
Simplified presentation of:
•
Statement of Financial Position
•
Statement of Operations
•
Statement of Changes in Fund Balances and Cash
Flows
•
Removing non required disclosures
•
Investment disclosures relate to entire portfolio
rather than by fund
Outline of process
•
October 19
th
, 2014: Planning Committee meeting with
Finance & Enterprise Risk Management (FERM) to develop
project timeline;
•
December 8-12
th
, 2014: On-site interim audit work with
Pricewaterhousecoopers LLP;
•
January 5
th
, 2015: Engagement Letter Signed
•
April 20-30
th
, 2015: On-site audit work;
•
May 11
th
, 2015: FERM Committee reviews audited financial
statements;
•
May 20
th
, 2015: Board reviews audited financial
statements.
•
May 22
nd
, 2015: Board provides approval to the audited
Auditor’s Report
•
In our opinion, the financial statements
present fairly, in all materials respects, the
financial position of Skate Canada as at March
31, 2015 and the results of its operations and
its cash flows for the year then ended in
accordance with Canadian accounting
Statement of Financial Position –
Assets
Investments
$- $5,000 $10,000 $15,000 $20,000 $25,000 2015 2014 $20,277 $19,528 $2,362 $1,170 Thousands Investments Investment IncomeStatement of Financial Position –
Liabilities and Fund Balances
- 50 100 150 200 250 300 350 400 1 - Skate for Life - CanSkate
2 - Skate for Life - LifeSkate 3 - Skate for Life - Power Skate 4 - Skate to Win - Coach Official 5 - Skate to Win - Podium 6 - Skate to Win - Development 7 - On Line Learning 8 - Club Delivery 9 - Safe Sport 10 - Partnerships 11 - Brand Content 12 - Brand Programs $46 $9 $34 $69 $140 $381 $0 $72 $112 $138 $311 $32 Thousands
14-15 FY Spend: $1.344M
Deferred Contributions – Strategic Plan
SKATE FOR LIFE
SKATE TO WIN
DELIVERY CAPACITY
PARTNERSHIPS
2014-2018 Strategic Plan – Strategic
Imperatives
Statement of Operations
$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 Membership
Test fees Government and other grants Events Sponsorship Merchandising Investment Income Other Strategic planning $6,379 $887 $2,500 $1,880 $1,471 $568 $2,362 $251 $1,344 $6,528 $905 $2,184 $2,776 $1,698 $598 $1,170 $575 $23 Thousands
Comparative Revenue Groupings
2015 2014
Statement of Operations
$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000
Section Grants
Athlete Grants
Events
Salaries, benefits and professional development
Professional fees and contracted services
Travel and living
Strategic planning $3,331 $708 $2,445 $4,617 $1,038 $1,590 $1,344 $3,402 $800 $3,718 $5,215 $1,275 $1,478 $23 Thousands
Comparative Expense Groupings
2015 2014